** Shares of Goldman Sachs GS.N rise 2.36% to $506.12 premarket

** GS reports rise in Q1 profit as market volatility led to record revenue in equities trading and boosted fixed income results

** Wall Street giant's profit rose to $4.74 billion, or $14.12 per share, for three months ended March 31, compared with $4.13 billion, or $11.58 per share, a year earlier

** GS' Q1 investment banking fees fell 8% to $1.9 billion

** Q1 provisions for credit losses fell to $287 million, compared with $318 million a year ago

** As of last close, GS shares fell 13.7% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))