Hi,
You can use HMS(<hours>,<minutes>,<seconds>) function. You may need to extract the hours carefully (adding leading zeros might help).
data want;
format Time_Formated time12.6;
time=93501.5373;
Hr=input(substr(put(time,z11.4),1,2),2.);
Min=input(substr(put(time,z11.4),3,2),2.);
Sec=input(substr(put(time,z11.4),5),7.4);
Time_Formated=hms(Hr,Min,Sec);
run;
Thanks,
Suryakiran