Frankly, that's not good: why are you using Split to break something which should only have a single instance?
If your syntax is
"function name" : "parameter1" , "parameter2"
Then start off by checking the line, and breaking it into tokens: use IndexOf to return the position of the ":" and then Substring twice to break it into "function name" and "parameters", then do the same thing with comma to create the two parameters.
When you have validated the input that far, convert your parameters to integer (or float, or double - whatever type you are planning to use) with TryParse, and if they both work, hand the function name and the two numeric parameters to an "evaluate" function. It looks at the name, and performs the operation - it then returns the value.
This allows later expansion:
Add: (Mul: 3, 4), (Mul: 5, 6)
Since this allows you to pass the inner functions to the evaluate method and then use the results in the next call.