First, what kind of time do you want to display, the current time of day, or the playing time (time since mission start)?
For the first, you can use the dayTime command which returns the time of day in hours, 14.25 --> quarter past 2 pm.
The second is given by the time command returning the game time in seconds. This command has a small glitch (or feature, depending on your viewpoint): The time is reset to zero after a save, so it actually returns time since last save.
To nicely show hours, minutes, etc. the careful use of the mod (which can be used to extract the fractional part of a number) command is necessary, e.g.
_daytime = dayTime
_mins = _daytime mod 1
_hours = _daytime - mins
_mins = _mins*60
_seconds = _mins mod 1
_mins = _mins - _seconds
_seconds = _seconds*60
_seconds = _seconds - (_seconds mod 1)
If this works as expected, _hours, _mins and _seconds should be integer number in the range 0...24,0...59,0...59 respectively.
Hope this helps,
Spinor