Calculated columns format is not retained when exported to excel

Hi Everyone,

I have a calculated column in my apliqo report with simple calc like =IFERROR((J1/F1),0) and have set the format of this column as percentage.
Its displayed in UX as %, but when I export it to excel, the % format is not getting applied.

Is there any setting that needs to be updated to retain the formatting of calculated columns in excel export?

Version: 2024.05 FP1

Thanks.