import pandas as pd
index = pd.date_range('2013-1-1',periods=10,freq='15Min')
data = pd.DataFrame(data=[1,2,3,4,5,6,7,8,9,0], columns=['value'], index=index)

data['value'] > 3
Out[40]:
2013-01-01 00:00:00    False
2013-01-01 00:15:00    False
2013-01-01 00:30:00    False
2013-01-01 00:45:00     True
2013-01-01 01:00:00     True
2013-01-01 01:15:00     True
2013-01-01 01:30:00     True
2013-01-01 01:45:00     True
2013-01-01 02:00:00     True
2013-01-01 02:15:00    False
Freq: 15T, Name: value, dtype: bool

In [11]: data.index.indexer_between_time(start='01:15', end='02:00')
Out[11]: array([5, 6, 7, 8])

In [12]: data.iloc[data.index.indexer_between_time(start='1:15', end='02:00')]
Out[12]:
                     value
2013-01-01 01:15:00      6
2013-01-01 01:30:00      7
2013-01-01 01:45:00      8
2013-01-01 02:00:00      9

data.iloc[data.index.indexer_between_time('1:15', '02:00')]
Out[90]:
                     value
2013-01-01 01:15:00      6
2013-01-01 01:30:00      7
2013-01-01 01:45:00      8
2013-01-01 02:00:00      9