Display time calculated in minutes and seconds

I am trying to calculate and display the elapsed time based on a formula using the distance in one cell divided by the rate in another cell. for example:

A1 (distance) = 2 miles
B1 (speed) = 100 miles per hour
C1 (time) should = and display 00:01:12 (or 1 minute 12 seconds)

The formula distance/(mph/60) returns 1.2 minutes which is accurate but I need it to display the minutes and seconds if possible.