Billing details of the logged in contact are not populated on online event registration page

The below are steps to reproduce this issue :

1) Create a contact in civicrm, fill its billing address block details,
2) Create a event with online registration and fee section enabled. Configure any billing mode payment processor(dummy, pay pal pro) to the event in fee section,
3) Login with this contact, and visit online registration screen of newly created event,
4) I am able to see the fields for billing details but the values (which we entered while creating contact) are not populated in them.