Hello @Jayashri Goddanti ,
welcome to this moderated Azure community forum.
The body you get in the Azure Function is a BASE64 version of that JSON string seen in the IoT Explorer preview.
Please decode the body BASE64 string to JSON using the programming language (like C#) you use (every language has libraries for BASE64).
You can check this decoding with websites like this.
If the response helped, do "Accept Answer". If it doesn't work, please let us know the progress. All community members with similar issues will benefit by doing so. Your contribution is highly appreciated.