You could do it, but you will need to ensure that you have a dummy column defined in your SQL that will add the column name you want to put your calculation result in:
select *, null 'Column C' from ....
This will allow your datasource to bind because the columns will exist to store the result in.
You then perform a RowDataBound event on the GridView that should be something like this:
protected void GridView1_RowDataBound(object sender, GridViewRowEventArgs e)
{
DataRow rowView = (DataRow)e.Row.DataItem;
if (e.Row.RowType == DataControlRowType.DataRow)
{
int value = Convert.ToInt32(rowView["Column A"]) * Convert.ToInt32(rowView["Column B"]);
e.Row.Cells[e.Row.Cells.Count - 1].Text = value.ToString();
}
}