Thank @Srini84, but read-only is not checked in my Excel Application Scope. Since the file is opened from the cloud by default it is opening in a Read-only mode. Also once we click the Edit Workbook (as show on the below screenshot), then only our changes will get saved.
Iβm not sure what causes your problem, but you can try using the workbook activities for read and write range instead of using the excel ones which require an excel application scope.