Why you found the reading is not same as calculation: Power = I x V ?
V = 220
I = 0.286A
P = I x V = 62.9W (It is True power)
This power meter can measure PFC value, the display of watt is using Apparent Power.
i.e. True power x Power factor value.
The display show 37.2W, that mean PFC value is around 0.59
Conclusion:
If the power meter don't have PFC display function, it will show you power reading of 62.9W
If the power meter have PFC display function, it will show you Apparent power of 37.2W