Изврат, конечно:
SET @t = 0;
SET @p = 0;
SELECT MIN(`time`) AS `t1`, MAX(`time`) AS `t2`
FROM (
SELECT `time`, @t AS `prev`,
@p := IF(@t+1 = `time`, @p, @p+1) AS `packet`,
@t := `time`
FROM `table`
ORDER BY `time`
) AS `t`
GROUP BY `packet`
ORDER BY `packet`;