Mean across every several rows in pandas

Question

I have a table of features and labels where each row has a time stamp. Labels are categorical. They go in a batch where one label repeats several times. Batches with the same label do not have a specific order. The number of repetitions of the same label in one batch is always the same. In the example below, every three rows has the same label.

I would like to get a new table where Var 1 and Var 2 are averaged across repetitions of labels. In this example, I would like to average every three rows as follows:

Is this possible to do with some functions in pandas or other Pyhton libraries?