The restaurant trust said the loss amounted to five cents per unit for the quarter ended March 31 compared with a loss of $6.9 million or 47 cents per unit a year ago.
Franchise sales by restaurants in the royalty pool were $186.3 million, up from $176.6 million a year ago, while same-store sales were up 3.2 per cent.
There were 348 restaurants in the royalty pool in the quarter compared with 342 a year ago.
The fund said the smaller loss for the quarter was mainly due to a $5.7-million drop in the fair value adjustments on the class B general partner units of Boston Pizza Royalties Limited Partnership.
Boston Pizza's distributable cash was $4.3 million or 27.7 cents per unit for the quarter, up from $4 million or 27.4 cents per unit a year ago.