Diff bet time separated by colon (like 23:10:00 minus next day 01:15:00) in excel
If you have start time in A2 and end time in B2 you can use this formula to get the difference
=MOD(B2-A2,1)
format result cell as a time value
That works whether the period crosses midnight or not, e.g. for your example you will get 2:05, for a time period on one day like 15:00 to 22:15 you will still get the correct result, i.e. 7:15