You need to convert your data to TimeSpan and then use format:"hh\:mm"
string test ="08:00:00";
TimeSpan ts = TimeSpan.Parse(test);
Console.Write(ts.ToString(@"hh\:mm"));
In your case:
var test = dataRow.Field<TimeSpan>("fstart").ToString(@"hh\:mm"));
Remember to escape the colon :
You may see: Custom TimeSpan Format Strings